Shota invests $\$2000$ in a certificate of deposit that earns $2\%$ in interest each year. Write a function that gives the total value $V(t)$, in dollars, of the investment $t$ years from now. Do not enter commas in your answer. $V(t)=$
Earning interest at a rate of $2\%$ means the value of the investment includes the original $100\%$ and increases by $2\%$ more, for a total of $102\%$. So each year, the value of the investment is multiplied by $102\%$, which is the same as a factor of $1.02$. If we start with the initial value, $\$2000$, and keep multiplying by $1.02$, this function gives us the value of the investment $t$ years from now: $V(t)=2000(1.02)^t$